Underwood, IN
Population 1,140 · Indiana
About Underwood, IN
Underwood is a small town located in Indiana with a population of 1,140 residents according to the latest US Census Bureau American Community Survey data. The median household income is $61,818 per year, which is 18% below the national median of $75,149. The median age of 26.9 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Underwood features a median home value of $181,300, which is 26% below the national median of $244,900. This positions Underwood in a moderately priced market relative to the rest of the country. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 320 total housing units, 90% are owner-occupied (287 units) and 10% are renter-occupied (33 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Underwood shows an unemployment rate of 4.1%, which is near the national rate of 3.7%. The poverty rate stands at 3.9%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Underwood have an average one-way commute time of 37.5 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
31.5% of Underwood residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 0.0% White, 0.0% Hispanic or Latino, 1.1% Black or African American, and 0.0% Asian residents, with 1.9% of the population being foreign-born.
Cost of Living in Underwood, IN
Compared to national averages, Underwood has a median household income of $61,818 (18% below the national median of $75,149). Home values average $181,300, which is 26% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Indiana, Underwood's income is 11% below the state average of $69,330, and home values are 11% above the state median of $163,409.
Why Live in Underwood, IN?
Underwood offers affordable housing with a median home value of $181,300, below the US average of $244,900, and rent that’s lower than the national average at $0/month, and a low poverty rate of 3.9%, better than the national average.
Potential considerations include median household income ($61,818) that falls below the national average. However, Underwood’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Underwood has a population of 1,140 with a median age of 26.9 years. Compare Underwood with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near Underwood
Cities in Indiana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Cayuga | 1,135 | $52,393 | $81,000 | Compare |
| Monroeville | 1,145 | $54,222 | $109,600 | Compare |
| Poseyville | 1,131 | $70,455 | $131,500 | Compare |
| Markle | 1,154 | $54,000 | $131,500 | Compare |
| Wolcottville | 1,126 | $54,583 | $98,300 | Compare |
| Ladoga | 1,155 | $72,188 | $123,700 | Compare |
| Thorntown | 1,155 | $69,875 | $173,400 | Compare |
| Mexico | 1,122 | $82,695 | $106,800 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Indiana
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Underwood With Other Cities
Frequently Asked Questions about Underwood
What is the population of Underwood, IN?
The population of Underwood, IN is 1,140 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Indiana.
What is the median household income in Underwood?
The median household income in Underwood, IN is $61,818 per year, which is 18% below the national median of $75,149.
What is the median home value in Underwood?
The median home value in Underwood, IN is $181,300, which is 26% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Underwood?
The median monthly rent in Underwood, IN is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Underwood?
The unemployment rate in Underwood, IN is 4.1%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Underwood, IN a good place to live?
Underwood offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 1,140 and a median age of 26.9, the city appeals to young professionals and families.
How educated is Underwood, IN?
31.5% of residents in Underwood aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Underwood?
Key cost-of-living indicators for Underwood, IN: median home value is $181,300 (26% below national), median rent is $0/month, and median household income is $61,818. The home-value-to-income ratio is 2.9x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Underwood?
The poverty rate in Underwood, IN is 3.9%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Underwood, IN?
Underwood's population is 0.0% White, 0.0% Hispanic or Latino, 1.1% Black or African American, 0.0% Asian, and 0.0% two or more races. 1.9% of residents are foreign-born.